Operator = whoever operates NMPP as it could be ALK but also can...

Operator = whoever operates NMPP as it could be ALK but also can and probably will be the JV partner.
you are missing when the 20Mt plant will kick. First they build 5Mt and mine highest grades, then scaleup to 10Mt with grades falling as some of the highest grades are already mined but also now the operator will be introducing lower grades to the mix in order to feed the plant and keep it running at nameplate.

And last is when they scaleup to 20Mt which by now many of the current high-grade zones are gone and the operator is blending mid-grades with low grades to feed the beast. Still profitable as the plant is paid for from previous profits.

My guess is when ALK hits 20Mt the head grade will be 0.5g/t AuEq and will produce around 265k Oz. But this is only a guess.

If the Operator finds more high-grade zones (very likely) then they will be able to sustain higher head grade for longer. At 0.6g/t AuEq the plant will produce around 310kOz. Recovery rate at 82%.

These are all assumptions and it is best to wait and see results of the Scoping Study. And even the Scoping Study can't predict if the operator will discover more high-grade zones at NMPP.